There is no possibility of further widening of the European Union

As more output is produced, the marginal product of labor declines

A) because of the law of diminishing returns. B) because the firm's marginal revenue declines. C) if the firm's output supply curve is inelastic. D) if firms reduce the wage paid to labor.

In a competitive market, a. demand will always reflect all spillover costs

b. demand will always reflect all spillover benefits. c. supply will always reflect all spillover costs. d. none of the above are true.